MABUX: No firm trend in Global bunker market on Aug 23
The Bunker Review was contributed by Marine Bunker Exchange (MABUX)
MABUX World Bunker Index (consists of a range of prices for 380 HSFO, VLSFO and MGO in the main world hubs) demonstrated irregular changes on August 22:
380 HSFO - USD/MT – 589.42 (-5.59)
VLSFO - USD/MT – 837.67 (-1.08)
MGO - USD/MT – 1167.08 (+9.78)
As of August 22, a correlation of MABUX MBP Index (Market Bunker Prices) vs MABUX DBP Index (Digital Bunker Prices Benchmark) in four largest global hubs showed that 380 HSFO fuel grade remained undervalued in three out of four selected ports: Rotterdam - by minus $25 (minus $24 the day before), in Singapore - by minus $69 (minus $68 the day before), in Fujairah - by minus $100 (minus $77 the day before). In Houston this fuel grade remained overvalued -by plus $4 (plus $28 the day before). MABUX MBP/DBP Index (MDI) for 380 HSFO fuel decreased in all selected ports. The most significant changes were registered in Fujairah (the undercharge level increased by 23 points) and Houston (The overcharge level declined by 24 points) on August 22.
VLSFO, according to the MABUX MBP /DBP Index, remained overcharged in all selected ports on August 22. The overcharge ratio was registered in Rotterdam by plus $37 (plus $48 the day before), in Singapore by plus $69 (plus $60 the day before), in Fujairah - by plus $110 (plus $119 the day before), in Houston - plus $40 (plus $47 the day before). MDI for VLSFO declined for most of selected ports. The most significant changes were registered in Rotterdam, where the overcharge level decreased by 11 points on August 22.
MGO LS, according to the MABUX MBP /DBP Index, was undervalued in three out of four selected ports on August 22: in Rotterdam – by minus $18 (minus $27 the day before), in Singapore - by minus $77 (minus $84 the day before) and in Houston - by minus $55 (minus $36 the day before). This fuel grade remained overcharged in Fujairah – by plus $180 (plus $201 the day before). MDI index for MGO decreased in half of selected ports. The most significant changes were registered in Fujairah where the overcharge level decreased by 21 points.
We expect global bunker prices may continue irregular changes today. The price for 380 HSFO and VLSFO may change within plus/minus 1-3 USD/MT, the price for MGO may increase by 9-18 USD/MT.
Source: www.mabux.com
